GCC Insulators Market to Reach $ 409 Million by 2021
Anticipated
expansion and upgrading of power transmission and distribution networks to
boost GCC insulators market through 2021
According to TechSci Research report “GCC
Insulators Market By Rating, By Type, Competition Forecast &
Opportunities, 2011 - 2021”, insulators market in GCC is projected to reach US$
409 million by 2021, on account of increasing investments in power projects
driven by expanding population base, growing manufacturing sector, and rapid
expansion of infrastructure projects such as railways, sea ports, etc.
Insulators are widely used in transmission and distribution networks to prevent
energy loss by acting as a barrier between current carrying cables and
supporting towers. Over the next five years, anticipated expansion of transmission
and distribution networks in GCC nations to supply power from source of
generation to demand location is projected to drive demand for insulators in
the region.
Power Generation Capacity in
GCC Countries, 2013 (GW)
Browse 15 market data Tables and 36 Figures
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On the basis of ratings, GCC insulators
market is categorized into low voltage insulators, medium voltage insulators
and high voltage insulators. Low voltage insulators segment accounts for the
largest share in the region’s insulators market on account of rapid expansion
of low voltage distribution lines to cater to the growing electricity demand from
the residential segment. Saudi Arabia dominates GCC insulators market due to growing
housing sector and increasing inclination of the country to diversify into non-oil
sectors such as manufacturing, real estate, infrastructure, etc. Insulators
market in the GCC region is dominated by global electrical equipment
manufacturers such as ABB, NGK insulators and Toshiba Gulf FZE.
“Growing infrastructure developments and increasing
focus of GCC nations to develop their manufacturing sector is projected to boost
demand for electricity in the region over the next five years. Moreover, growth
of real estate markets in the region is driven by rapidly growing population base
in these countries. In order to cater to rising need for housing, UAE, Saudi
Arabia and Qatar have initiated several housing and real estate projects. Moreover,
in order to address the rising demand for electricity, various major GCC
countries have announced massive investments in power sector projects,
particularly in power transmission and distribution segment, which would drive
demand for insulators in the coming years.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
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“GCC Insulators
Market By Rating, By Type, Competition Forecast & Opportunities, 2011 -
2021” has evaluated the future growth potential of insulators
market across the GCC region and provide statistics and information on market
structure, industry behavior and trends. The report includes market projections
and demand forecasting. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment evaluation.
Besides, the report also identifies and analyzes emerging trends along with
essential drivers, challenges and opportunities available in the insulators
market in the GCC region.
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